How were the quarterly results of ICICI Bank declared on Saturday?
Answer
Answer
Let us look at the ICICI Bank top line first. Revenues for the quarter fell -1.46% yoy at Rs.42,834 crore for the Mar-22 quarter. There was positive growth across retail banking, treasury and wholesale banking revenues, while the fall in revenues was due to insurance premium income faltering. Net interest income (NII) grew 21% yoy in Q4 at Rs.12,605 crore. For Q4, the overall deposits grew 14%, loans 17% while share of CASA deposits was 45%.
ICICI Bank Ltd
Rs in Crore
Mar-22
Mar-21
YOY
Dec-21
QOQ
Total Income
₹ 42,834
₹ 43,568
-1.68%
₹ 39,866
7.45%
Operating Profit
₹ 11,528
₹ 9,879
16.69%
₹ 11,152
3.38%
Net Profit
₹ 7,719
₹ 4,886
57.98%
₹ 6,537
18.09%
Diluted EPS
₹ 10.88
₹ 6.93
₹ 9.21
Operating Margins
26.91%
22.68%
27.97%
Net Margins
18.02%
11.22%
16.40%
Gross NPA Ratio
3.60%
4.96%
4.13%
Net NPA Ratio
0.76%
1.14%
0.86%
ROA (Not Annualized)
2.11%
1.51%
1.90%
Capital Adequacy
19.16%
19.12%
17.91%
In terms of operating performance, ICICI Bank reported 19% growth in core operating profits at Rs.8,565 crore for Mar-22 quarter. Net interest margins (NIM) crossed the 4% threshold after lingering around 3.90% for last 3 quarters. The Operating margin or OPM of the bank improved from a level of 22.68% in Mar-21 quarter to 26.91% in the Mar-22 quarter. However, the OPMs were lower by 106 bps on a sequential basis.
Net profits were up 57.98% for the Mar-22 quarter at Rs.7,719 crore through a combination of stable NIMs and lower provisions. For the Mar-22 quarter, provisions and contingencies fell by 63% yoy from Rs.2,883 crore in the Mar-21 quarter to Rs.1,069 crore in the Mar-22 quarter. Credit costs also eased in the quarter. PAT margins jumped from 11.22% to 18.02% in Mar-22 quarter compared to year ago quarter. Sequential margins were 162 bps better.